TOCOM Reports Strong Activity in October – Highest Overall Figures since April 2013
by
Adil Siddiqui
Tokyo-based commodity exchange has seen a sharp rise in trading volumes across its product range. The firm’s average daily trading volume and overall monthly volume increased from figures reported a month earlier.
Japan’s main commodity derivatives Exchange has reported upbeat trading metrics for the month of October. The multi-product venue saw record trading across all instruments. The recent spike in market Volatility supported the growth in numbers.
Platinum was up 27.9% to 25,094 contracts and Crude Oil was up 43.1% to 4,808 contracts. The average daily volume recovered to levels last seen in June 2013. Overall, monthly trading volume also increased to the highest level since April 2013, at 2,455,916 contracts. Volume on October 31 was 179,282 contracts, the highest this year.
Commodity markets saw a backlash during October. Recent data from the world's largest gold-backed exchange-traded fund, the SPDR Gold Shares, reported that it saw an outflow of investor funds of over $1 billion.
TOCOM’s gold prices faced a volatility period in October, the precious metal hit a four month low of 4,176 yen per gram reached on October 6 on improving U.S. economic indicators and expectations for higher interest rates. Prices fluctuated following a rise in U.S. stock prices and a growing demand for physical gold, as well as the buying of gold as a safe haven asset in a slowing economy.
In addition, the firm noted fluctuations in its energy offerings. Its Crude Oil prices dropped to a nearly 2 year low of 54,750 yen per kiloliter on October 17 as production expanded and concerns of a lower demand grew in Europe and China. Prices bounced back when expectations for demand stabilized, U.S. equities rose and the yen weakened.
CQG recently extended its market data coverage, TOCOM, which was made available through access points in Chicago. The news is expected to bolster the increase in trading of overseas participants. The firm reported that foreign participation accounts were around 40% of TOCOM’s overall volume and hit a record high at 44% in September 2014.
Japan’s main commodity derivatives Exchange has reported upbeat trading metrics for the month of October. The multi-product venue saw record trading across all instruments. The recent spike in market Volatility supported the growth in numbers.
Platinum was up 27.9% to 25,094 contracts and Crude Oil was up 43.1% to 4,808 contracts. The average daily volume recovered to levels last seen in June 2013. Overall, monthly trading volume also increased to the highest level since April 2013, at 2,455,916 contracts. Volume on October 31 was 179,282 contracts, the highest this year.
Commodity markets saw a backlash during October. Recent data from the world's largest gold-backed exchange-traded fund, the SPDR Gold Shares, reported that it saw an outflow of investor funds of over $1 billion.
TOCOM’s gold prices faced a volatility period in October, the precious metal hit a four month low of 4,176 yen per gram reached on October 6 on improving U.S. economic indicators and expectations for higher interest rates. Prices fluctuated following a rise in U.S. stock prices and a growing demand for physical gold, as well as the buying of gold as a safe haven asset in a slowing economy.
In addition, the firm noted fluctuations in its energy offerings. Its Crude Oil prices dropped to a nearly 2 year low of 54,750 yen per kiloliter on October 17 as production expanded and concerns of a lower demand grew in Europe and China. Prices bounced back when expectations for demand stabilized, U.S. equities rose and the yen weakened.
CQG recently extended its market data coverage, TOCOM, which was made available through access points in Chicago. The news is expected to bolster the increase in trading of overseas participants. The firm reported that foreign participation accounts were around 40% of TOCOM’s overall volume and hit a record high at 44% in September 2014.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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